Raymond James Financial Inc. Makes New $14.60 Million Investment in Knife River Co. (NYSE:KNF)

Raymond James Financial Inc. bought a new stake in shares of Knife River Co. (NYSE:KNF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 143,646 shares of the company's stock, valued at approximately $14,600,000. Raymond James Financial Inc. owned about 0.25% of Knife River at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KNF. Franklin Resources Inc. increased its holdings in Knife River by 10.5% in the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock worth $38,201,000 after acquiring an additional 39,991 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Knife River by 34.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock worth $5,220,000 after acquiring an additional 13,199 shares during the last quarter. Cerity Partners LLC increased its holdings in Knife River by 24.4% in the 3rd quarter. Cerity Partners LLC now owns 25,487 shares of the company's stock worth $2,278,000 after acquiring an additional 5,004 shares during the last quarter. State Street Corp increased its holdings in Knife River by 1.8% in the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company's stock worth $179,054,000 after acquiring an additional 34,646 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company's stock worth $62,513,000 after acquiring an additional 5,791 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company started coverage on Knife River in a report on Monday, March 10th. They issued an "overweight" rating and a $102.00 price objective for the company. Oppenheimer raised their target price on Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, Stephens restated an "overweight" rating and issued a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River presently has a consensus rating of "Buy" and a consensus target price of $110.40.

Knife River Price Performance

Shares of KNF traded up $0.23 during trading hours on Friday, reaching $91.07. 826,122 shares of the company's stock traded hands, compared to its average volume of 387,320. The stock has a market cap of $5.16 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The firm's 50 day simple moving average is $97.93 and its 200-day simple moving average is $96.05. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million for the quarter, compared to analysts' expectations of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. Equities analysts expect that Knife River Co. will post 4.11 EPS for the current year.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.